Jeffery: Charts say down - stock continues down - simple as that - you have been saying something different - which makes you wrong up to this point. And in truth if people had been following these indicators for the last two months, they have been accurate in predicting further declines in this stock.
As for how you read the chart - well if its art or numbers only one thing counts in the end - did you predict correctly.
People do not get confused out there by all this nonsense - ANYONE - looking at this chart would come to the same conclusion, unless they are blind. That does not mean something fundamental, more promotion, or a gold price move, will not intervene and reverse this, but other than that, it is down.
I think this is a classic example of seeing what you want in the chart.(rationalization) My point. If anyone uses trading methods based on TA (not saying you should) then this has been a sell for some time. To now say otherwise is a complete joke. Why? Because then the very systems one would be watching for buy or sell signals would become meaningless. Which, by the way, is what many people say.
So Jeffery: which is it - are you still saying the stock is being accumulated and is a great buy? Based on what?
As for me, I find that many of these indicators work.
They give me warnings, as in this case, charts have been saying sell and continue to say sell.
Eric
P.S. Re Roebear, if it was worth .50 based on ... it must be worth more now. Not true - it often happens that there is a big spike or runup in these types of situations, based on "potential", and when cost and other realities become evident the stock often declines. (as you well know Roebear) Looks like that to me right in here doesn't it?? |
